Honey Supplier Groeb Farms Gets Greenlight For Chapter 11 Plan

A bankruptcy judge approved Michigan honey supplier Groeb Farms Inc.’s restructuring plan, paving the way for the company to emerge from Chapter 11 protection under the ownership of a private equity firm.

Judge Walter Shapero of the U.S. Bankruptcy Court in Detroit signed off on the plan Thursday following a confirmation hearing.

Texas investment firm Peak Rock Capital will take control of Groeb Farms after extending a $30 million bankruptcy loan to the 76-worker company, which filed for bankruptcy protection after regulators caught it illegally buying Chinese honey through other countries to avoid antidumping tariffs.